Interest rates on new term deposits rise for the 7th consecutive month in August · Bica

Economy

Interest rates on new term deposits rise for the 7th consecutive month in August

The average interest rate for new term deposits from individuals rose to 1.63% in August, an increase of 0.04 percentage points from July and the highest level since April 2025. While this marks seven months of consecutive growth, the rate remains below the Eurozone average of 2.18%.

Why it mattersIf you are considering opening a term deposit in Portugal, these figures provide context on current banking returns, though they remain lower than the Eurozone average.

Correio da Manhã· 2h agoRead original ↗

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Data from the Bank of Portugal (BdP) shows that in August, the average interest rate on new term deposits in Portugal was 1.63%, significantly lower than the Eurozone average of 2.18%. Portugal also underperforms the Eurozone average for interest rates on all types of deposits, including notice accounts and demand deposits, while holding the highest proportion of savings in term deposits within the Eurozone.

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